MARCUS THEATRES® ANNOUNCES NEXT PHASE OF ITS REOPENING PLANS
Additional Theatre Reopening Dates Align with New Movie Releases from Hollywood
Milwaukee, August 18, 2020…Marcus Theatres®, a division of The Marcus Corporation (NYSE:MCS), today announced the timing for the next two phases of reopening theatres. On Friday, August 21, 2020, 35 theatres will reopen and on August 28, 2020, another 30+ theatres will welcome guests back. In total, more than two-thirds of the 91 Marcus Theatres or Movie Tavern locations will be reopened in time for the much-anticipated, domestic release of the film “Tenet” on September 3, 2020. The remaining theatres will open at a later date. All theatres will feature updated health and safety measures – for details on the protocols or the specific list of theatres visit www.MarcusTheatres.com/reopening.
“The safety and well-being of our guests and associates will always be our top priorities,” said Rolando Rodriguez, chairman, president and CEO of Marcus Theatres. “We implemented our updated safety protocols at a few locations in late June and have been extremely pleased with the response from theatre-goers. In fact, we surveyed the very first guests back and more than 96 percent indicated it was a comfortable and safe experience. That customer confidence, combined with upcoming new movie releases, creates a great entertainment option at a time when we could all use an escape.”
As theatres reopen, there initially will be a mix of classic content, plus new movie releases, including: “Unhinged,” a special 10-year anniversary re-release of “Inception” and “Words on Bathroom Walls” on August 21; “The New Mutants” and “The Personal History of David Copperfield” on August 28; and
“Tenet” for Labor Day weekend. Additional films currently scheduled for release during the last four months of 2020 include:
• September: “The King’s Man” and “Greenland”
• October: “Wonder Woman 1984,” “Death on the Nile,” “Candyman” and “Fatale”
• November: “Black Widow,” “Soul,” “No Time to Die,” “Deep Water,” “Happiest Season” and “Voyagers”
• December: “Free Guy,” “West Side Story,” “Coming 2 America,” “Dune,” “The Croods: A New Age” and “The Empty Man”
Guests should expect to be greeted by the Marcus Theatres “Movie STAR” approach, which incorporates updated health and safety measures and is in alignment with Centers for Disease Control (CDC) guidelines. Everyone plays a role in creating a safe environment with social distancing (S); Thorough cleaning (T); App and website ordering of tickets, food and concessions for no-to-low contact interactions (A); and respecting each other by following these new protocols (R). For the most up-to-date information about policies, hours of operation and reopening information visit www.MarcusTheatres.com/reopening.
About Marcus Theatres
Marcus Theatres®, a division of The Marcus Corporation, is the fourth largest theatre circuit in the United States and currently owns or operates 1,110 screens at 91 locations in 17 states under the Marcus Theatres, Movie Tavern® by Marcus and BistroPlex℠ brands. For more information, please visit www.MarcusTheatres.com and follow the company on Facebook and Twitter (@Marcus_Theatres).
About The Marcus Corporation
Headquartered in Milwaukee, The Marcus Corporation is a leader in the lodging and entertainment industries, with significant company-owned real estate assets. In addition to its Marcus Theatres division, its lodging division, Marcus® Hotels & Resorts, owns and/or manages 18 hotels, resorts and other properties in eight states. For more information, please visit the company’s website at www.marcuscorp.com.
Certain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may generally be identified as such because the context of such statements include words such as we “believe,” “anticipate,” “expect” or words of similar import. Similarly, statements that describe our future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties which may cause results to differ materially from those expected, including, but not limited to, the following: (1) the adverse effects of the COVID-19 pandemic on our theatre and hotels and resorts businesses, results of operations, liquidity, cash flows, financial condition, access to credit markets and ability to service our existing and future indebtedness; (2) the duration of the COVID-19 pandemic and related government restrictions and social distancing requirements and the level of customer demand following the relaxation of such requirements; (3) the availability, in terms of both quantity and audience appeal, of motion pictures for our theatre division (particularly following the COVID-19 pandemic, during which the production of new movie content has essentially ceased and release dates for motion pictures have been postponed), as well as other industry dynamics such as the maintenance of a suitable window between the date such motion pictures are released in theatres and the date they are released to other distribution channels; (4) the effects of adverse economic conditions in our markets, including but not limited to, those caused by the COVID-19 pandemic; (5) the effects of adverse economic conditions, including but not limited to, those caused by the COVID-19 pandemic, on our ability to obtain financing on reasonable and acceptable terms, if at all; (6) the effects on our occupancy and room rates caused by the COVID-19 pandemic and the effects on our occupancy and room rates of the relative industry supply of available rooms at comparable lodging facilities in our markets once hotels and resorts have more fully reopened; (7) the effects of competitive conditions in our markets; (8) our ability to achieve expected benefits and performance from our strategic initiatives and acquisitions; (9) the effects of increasing depreciation expenses, reduced operating profits during major property renovations, impairment losses, and preopening and start-up costs due to the capital intensive nature of our business; (10) the effects of weather conditions, particularly during the winter in the Midwest and in our other markets; (11) our ability to identify properties to acquire, develop and/or manage and the continuing availability of funds for such development; (12) the adverse impact on business and consumer spending on travel, leisure and entertainment resulting from terrorist attacks in the United States, other incidents of violence in public venues such as hotels and movie theatres or epidemics (such as the COVID-19 pandemic); (13) a disruption in our business and reputational and economic risks associated with civil securities claims brought by shareholders; (14) our ability to timely and successfully integrate the Movie Tavern operations into our own circuit; and (15) our ability to achieve the additional revenues and operating income that we anticipate from our additional week of operations in fiscal 2020. Our forward-looking statements are based upon our assumptions, which are based upon currently available information, including assumptions about our ability to manage difficulties associated with or related to the COVID-19 pandemic; the assumption that our theatre closures, hotel closures and restaurant closures are not expected to be permanent or to re-occur; the continued availability of our workforce; and the temporary and long-term effects of the COVID-19 pandemic on our business. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
###
